Investors have ploughed back into shares following the election of US President Donald Trump, and his big spending plans and the promise of tax cuts. The three major US indicies – the Dow, Nasdaq and S&P 500 – reached fresh highs on Tuesday.

For Japan, more gains could be in sight with healthy corporate profits expected during results season this month.

The world’s third-largest economy has been picking up steam, notching its longest string of quarterly gains in a decade.

Japan has benefited from rising exports – including smart phones and memory chips – while investment tied to the Tokyo 2020 Olympics has also given its economy a boost.

On Tuesday, the International Monetary Fund raised its global economic outlook for Japan. It now expects 1.5% GDP growth in 2017, and 0.7% the following year following a rise in exports and consumer spending.

That’s up from earlier projections for 1.3% and 0.6% respectively.

Despite breaching a two-decade high, not all stocks fared well in Japan on Wednesday.

One of the country’s largest steelmakers, Kobe Steel, plunged again, with shares tumbling 36% in two days in the wake of a scandal over the fabrication of data concerning the quality of its products.